Canada: CRA announces some tax relief measures during COVID-19 pandemic
26 April, 2020
The Canada Revenue Agency (CRA) has recently announced few tax relief measures. These includes:
On 21 April 2020, the CRA launched general guidance concerning the Canada Emergency Wage Subsidy (CEWS) and a calculator for determining the subsidy amount for qualifying entities. The CEWS provides a payment of up to 75% of the eligible remuneration normally paid by an eligible employer to eligible employees retroactive from 15 March 2020, and 6 June 2020.
On 27 March 2020, government announced that any GST/HST payments or remittances deadlines for statements of accounts for March, April, and May are deferred to 30 June 2020.
Finance Minister Caroline Wawzonek has presented the Government of the Northwest Territories (GNWT) 2025-26 budget to the 20th Legislative Assembly on 6 February. Budget 2025‑2026 forecasts revenues of CAD 2.7 billion and allocates CAD 2.5
US President Donald Trump has agreed on Monday, 3 February 2025, to halt tariffs on Canada and Mexico for 30 days – which was set to take effect Tuesday, 4 February 2025 – after both countries pledged to step up efforts to stop illicit drugs and
Canada’s Minister of Finance and Intergovernmental Affairs, Dominic LeBlanc, has announced that the federal government is deferring—from 25 June 2024 to 1 January 2026—the date on which the capital gains inclusion rate would increase from
Canada’s Prime Minister Justin Trudeau announced on Saturday, 1 February 2025, that the country will impose 25% tariffs on US goods, including orange juice, household appliances, and plastics, in response to US duties on Canadian imports. This
In 2024, there were several announcements about changes to business taxes that will take effect in 2025. Canada Revenue Agency (CRA) has published key updates, along with some helpful resources to make it easier to manage these
Canada’s Ministry of Finance has reported a CAD 14.50 billion (USD 10.09 billion) budget deficit in the first seven months of 2024-25 on 20 December 2024. The Finance Ministry said this deficit is slightly lower than last year due to increasing
